The Ultra-Rich Hide 25 Percent of Their Wealth in Tax Havens

A study released May 28 by University of California Berkeley economist Gabriel Zucman and two Scandinavian colleagues, “Tax Evasion and Inequality,” demonstrates that global wealth inequality is drastically underestimated in official statistics because of how successful the super-rich are at evading taxes.

According to the paper, the super-rich, that is the top .01 percent, hide some 25 percent or more of their wealth. This is primarily due to the exploitation of offshore tax havens that allow them to avoid paying taxes where their income is actually accrued, and where they actually live.

The study demonstrates, yet again, that the super-rich are a law onto themselves, living in a world completely separate from the vast majority of humanity. Earlier this year, Oxfam reported that only eight men control as much wealth as the bottom half of humanity…

Would you be OK if I cross-posted this article to WriterBeat.com? I’ll be sure to give you complete credit as the author. There is no fee; I’m simply tryincg to add more content diversity for our community and I liked what you wrote. If “OK” please let me know via email.

Autumn Cote, as we see it, all info comes from outside of us; no-one can claim “IP”; some do, but not us; we are not the author; and, no-one can prevent you from educating the people; that is surely the purpose? be free; in peace